West Virginia Lottery

WVLottery MEGA Millions Jackpot Analysis

The MEGA Millions jackpot for the draw on Fri Jan 10, 2025 is estimated to be $77 Million, with a cash option of 34.1 Million. If you win the MEGA Millions jackpot, the IRS will withhold 24% of your prize money upfront, and you may owe up to an additional 13% in federal taxes when the tax is due. Additionally, if you are a resident of West Virginia, your state will take 6.5% of your lottery winnings.

Please note that the calculation of the Powerball jackpot prizes and taxes below is based on FEDERAL INCOME TAX BRACKETS FOR 2023.

West Virginia MEGA Millions Jackpot/Cash Option for Fri Jan 10, 2025

Draw Date	Jackpot	Cash Option
Fri Jan 10, 2025	$77,000,000	$34,100,000

Lumpsum Option Taxes and Payment

Category	Amount
Cash Gross Payment	$34,100,000
Federal Tax(24%)	$8,184,000
Additional Federal Tax	$4,393,330
State Tax(6.5%)	$2,216,500
Net Lumpsum Payment	$19,306,170

Annuity Payment in 30 Installations

Year	Gross Payment	Fed/State Tax	Net Payment
1	$1,158,927	-$389,133 -$75,330	$694,464
2	$1,216,908	-$410,586 -$79,099	$727,223
3	$1,277,738	-$433,093 -$83,053	$761,592
4	$1,341,648	-$456,740 -$87,207	$797,701
5	$1,408,715	-$481,555 -$91,566	$835,594
6	$1,479,170	-$507,623 -$96,146	$875,401
7	$1,553,090	-$534,974 -$100,951	$917,165
8	$1,630,783	-$563,720 -$106,001	$961,062
9	$1,712,326	-$593,891 -$111,301	$1,007,134
10	$1,797,950	-$625,572 -$116,867	$1,055,511
11	$1,887,809	-$658,820 -$122,708	$1,106,281
12	$1,982,211	-$693,748 -$128,844	$1,159,619
13	$2,081,310	-$730,415 -$135,285	$1,215,610
14	$2,185,414	-$768,934 -$142,052	$1,274,428
15	$2,294,677	-$809,361 -$149,154	$1,336,162
16	$2,409,407	-$851,811 -$156,611	$1,400,985
17	$2,529,835	-$896,369 -$164,439	$1,469,027
18	$2,656,346	-$943,178 -$172,662	$1,540,506
19	$2,789,171	-$992,324 -$181,296	$1,615,551
20	$2,928,618	-$1,043,919 -$190,360	$1,694,339
21	$3,075,072	-$1,098,107 -$199,880	$1,777,085
22	$3,228,841	-$1,155,002 -$209,875	$1,863,964
23	$3,390,233	-$1,214,717 -$220,365	$1,955,151
24	$3,559,787	-$1,277,452 -$231,386	$2,050,949
25	$3,737,734	-$1,343,292 -$242,953	$2,151,489
26	$3,924,690	-$1,412,466 -$255,105	$2,257,119
27	$4,120,886	-$1,485,058 -$267,858	$2,367,970
28	$4,326,938	-$1,561,297 -$281,251	$2,484,390
29	$4,543,308	-$1,641,354 -$295,315	$2,606,639
30	$4,770,458	-$1,725,400 -$310,080	$2,734,978